A hybrid property type exists, blending characteristics of both condominiums and hotels. Units within this property are individually owned but are also available for short-term rental to guests, managed by a central management company. As an example, consider a beachfront property where individuals purchase suites. These owners can then reside in their unit for personal use at certain times, while the remainder of the year, the unit is incorporated into a rental program, generating revenue when occupied by paying guests.
This type of ownership provides several advantages. For the individual owner, it presents an opportunity to generate income from their investment when not in use. Furthermore, it allows access to hotel-style amenities, such as housekeeping, concierge services, and on-site restaurants. Historically, this model has gained traction in tourist destinations, offering a convenient and often more affordable lodging option compared to traditional hotels, while simultaneously providing owners with a real estate investment.
